Publications

Stonepeak and Spirit Super to acquire Victoria’s second-largest port
Transactions - NOVEMBER 22, 2022

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Stonepeak and Spirit Super to acquire Victoria’s second-largest port

by Kali Persall

Stonepeak and Australian industry super fund Spirit Super have signed a definitive agreement to acquire 100 percent of Australia’s GeelongPort.

GeelongPort is Victoria’s second-largest port, located 75 kilometers (46.6 miles) southwest of Melbourne within Victoria’s largest regional city, Geelong. The port provides land, infrastructure and services to facilitate trade for some of Victoria’s largest businesses and manages more than A$7 billion ($4.6 billion) of trade. GeelongPort handles close to 12 million tonnes of cargo and more than 600 vessel visits annually.

Under the terms of the agreement, Stonepeak, on behalf of its managed funds and accounts, will hold a majority 70 percent interest in GeelongPort, and Spirit Super will hold a 30 percent stake.

“As a high-quality landlord port with operations that are critical to Australia’s economy, GeelongPort is a natural fit for Stonepeak’s core infrastructure strategy,” said Darren Keogh, senior man

Forgot your username or password?